Forbes.com, with the data from economic forecasting firm Moody's Economy.com introduced a ranking of The Best And Worst Cities For Recession Recovery.
Top 10 cities for recession recovery is as follows:
- Austin Tx is ranked No.1, driven by educated workforce, strong IT industry and recession proof University of Texas and State Capital.
- Four Texas cities are listed in Top 10. This is proof of "Era of Texas" has arrived.
- For other cities in Top 10, each city has extraordinarily strength such as Washigton DC - government spending, Seattle - highly educated workforce and IT industry, Fayettevile - Walmart HQ, Huntsville - booming IT industry, McAllen Tx - trade with Mexico, etc...
Conversely, the worst 10 cities for recession recovery is as follows:
- 6 out of the worst 10 cities are in California. "The end of the era of California" seems to be really happening.
- Flint and Detroit was ranked Worst 1 and 3 respectively because of decline of US auto industry. They are constantly ranked "worst" in many economic indicators.
- Hit hard by financial industry meltdown, New York metro area's GMP (Gross Metropolitan Product) is forecast to go down by -3.8% by the end of 2010. Since NY metro's real estate price has not declined much, Deutche Bank economist expect additional 30-40% decline.
Real estate is location, location & location! Each metropolitan areas have entirely different economic base and growth potential. Since the biggest advantage of the real estate investment in US is long-term capital gain, it is safest bet to invest in high growth areas.
Happy Investing !!!!!
Top 10 cities for recession recovery is as follows:
- Austin Tx is ranked No.1, driven by educated workforce, strong IT industry and recession proof University of Texas and State Capital.
- Four Texas cities are listed in Top 10. This is proof of "Era of Texas" has arrived.
- For other cities in Top 10, each city has extraordinarily strength such as Washigton DC - government spending, Seattle - highly educated workforce and IT industry, Fayettevile - Walmart HQ, Huntsville - booming IT industry, McAllen Tx - trade with Mexico, etc...
| Rank | Metropolitan Stastical Area | 2009GMP | 2010GMP | Growth | Unemployment |
| 1 | Austin-Round Rock, Texas | 72.4 | 77.7 | 7.3% | 5.8% |
| 2 | Fayetteville-Springdale-Rogers, Ark. | 13.9 | 14.5 | 4.3% | 5.0% |
| 3 | Boulder, Colo. | 15.6 | 16.3 | 4.5% | 5.7% |
| 4 | Huntsville, Ala. | 16.1 | 17.2 | 6.8% | 6.1% |
| 5 | San Antonio, Texas | 66.3 | 68.4 | 3.2% | 5.4% |
| 6 | Mobile, Ala. | 13.5 | 14.5 | 7.4% | 8.5% |
| 7 | Dallas-Fort Worth-Arlington, Texas | 274.6 | 287.9 | 4.8% | 6.0% |
| 8 | Washington DC-Arlington-Alexandria | 298.7 | 308.1 | 3.1% | 5.6% |
| 9 | McAllen-Edinburg-Mission, Texas | 15.6 | 16.6 | 6.4% | 8.9% |
| 10 | Seattle-Tacoma-Bellevue, Wash. | 168.3 | 179.8 | 6.8% | 8.0% |
Conversely, the worst 10 cities for recession recovery is as follows:
- 6 out of the worst 10 cities are in California. "The end of the era of California" seems to be really happening.
- Flint and Detroit was ranked Worst 1 and 3 respectively because of decline of US auto industry. They are constantly ranked "worst" in many economic indicators.
- Hit hard by financial industry meltdown, New York metro area's GMP (Gross Metropolitan Product) is forecast to go down by -3.8% by the end of 2010. Since NY metro's real estate price has not declined much, Deutche Bank economist expect additional 30-40% decline.
| Rank | Metropolitan Stastical Area | 2009GMP | 2010GMP | Growth | Unemployment |
| 1 | Flint, Michigan | 11.0 | 9.3 | -15.6% | 14.2% |
| 2 | Fresno, Calif. | 30.1 | 29.4 | -2.3% | 15.5% |
| 3 | Detroit-Warren-Livonia, Mich. | 160.0 | 149.8 | -6.4% | 13.5% |
| 4 | Modesto, Calif | 14.5 | 14.2 | -2.1% | 16.8% |
| 5 | Salinas, Calif. | 13.8 | 13.4 | -2.9% | 11.7% |
| 6 | Bakersfield, Calif. | 23.8 | 23.1 | -2.9% | 14.8% |
| 7 | New York-N. NJ-LI, N.Y.-N.J.-Pa. | 988.0 | 950.0 | -3.8% | 7.6% |
| 8 | Stockton, Calif. | 18.1 | 17.8 | -1.7% | 15.6% |
| 9 | Youngstown-Warren-Boardman, Ohio | 16.3 | 15.4 | -5.5% | 12.8% |
| 10 | Los Angeles-Long Beach-Santa Ana, Calif. | 597.0 | 581.0 | -2.7% | 10.1% |
Real estate is location, location & location! Each metropolitan areas have entirely different economic base and growth potential. Since the biggest advantage of the real estate investment in US is long-term capital gain, it is safest bet to invest in high growth areas.
Happy Investing !!!!!
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